SVB CEO No Longer on San Francisco Fed’s Board After Bank Fails

SVB Financial Group Chief Executive Officer Greg Becker is no longer a director of the Federal Reserve Bank of San Francisco, according to a Fed spokesman.

The change was effective Friday, the same day SVB-owned Silicon Valley Bank failed and was taken over by state and federal regulators. He became a Class A director of the San Francisco Fed’s head office board in 2019 and his departure leaves a vacant seat on the nine-member board.

Greg Becker

Photographer: Lauren Justice/Bloomberg

The Fed’s 12 regional banks each have three classes of directors, with the Class A tier made up of representatives of district banks.

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